Day: June 15, 2023

U.S. Justice Department Agrees to Try FTX Founder Sam Bankman-Fried on Original Charges Only for Now

Those original charges include counts one (conspiracy to commit wire fraud on customers of FTX), two (wire fraud on customers of FTX), three (conspiracy to commit fraud on FTX customers tied to derivatives), five (conspiracy to commit securities fraud against FTX investors), seven (conspiracy to commit wire fraud on lenders to Alameda Research), eight (wire fraud on lenders to Alameda Research), 11 (conspiracy to commit money laundering) and 12 (conspiracy to make unlawful political contributions and defraud the Federal Elections Commission). Source

‘Who the hell’ is Prometheum and what did it say to Congress about SEC compliance?

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The relatively under-the-radar crypto company Prometheum has been thrust into the spotlight after a recent testimony from its co-founder before a United States House Committee, discussing crypto regulatory clarity. On June 13, Prometheum co-founder and co-CEO Aaron Kaplan appeared before the U.S. House at a hearing to discuss providing regulatory clarity to the crypto industry. Contrary to recent commentary from crypto industry players such as Coinbase, Kaplan’s testimony appears to be supportive of regulating crypto under current securities laws — a view also shared by the Securities and Exchange Commission…

The Graph’s migration to Arbitrum in final phase

The Graph, a blockchain data indexing and query protocol, has started the final phase of its transition process to Arbitrum, a layer-2 scaling solution operating on Ethereum. The Graph, an indexing and query protocol for blockchain data, is currently executing a migration process to Arbitrum, a layer-2 scaling solution that operates on the Ethereum network. The initiative is aimed at delivering reduced gas fees, enhanced transaction processing speed, and improved accessibility to the protocol. The decision to progress with the transition to Arbitrum was facilitated by the network participants’ voting…

Institutional crypto broker FPG halts withdrawals after $20M cyberattack

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Cryptocurrency brokerage firm Floating Point Group (FPG) has confirmed it has halted trading, withdrawals and deposits on its platform after falling victim to a cyberattack on June 11. FPG estimates the attack resulted in a total loss of between $15 million and $20 million. According to a June 15 tweet from FPG’s official twitter account, upon discovering the security breach FPG locked all third party accounts and migrated wallets. It later halted trading, deposits and withdrawals out of “an abundance of caution.” 1/5 On Sunday, we experienced a cyber security…

Pro-Bitcoin Florida man Francis Suarez enters presidential race

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Francis Suarez, the mayor of Miami and a known crypto advocate, has filed paperwork signaling his intention to run for United States presidency in 2024. He will join the likes of former U.S. President Donald Trump and fellow Florida Governor Ron DeSantis — another Bitcoin (BTC) advocate — in vying to lead the Republican presidential bid. Suarez officially filed the paperwork on June 14, according to documents released by the U.S. Federal Election Commission. Two generations, one flag, endless pride. #FlagDay pic.twitter.com/bFKosiOEH7 — Mayor Francis Suarez (@MiamiMayor) June 14, 2023…

Bitcoin dips below $25K for the first time in 3 months

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The price of Bitcoin (BTC) has fallen below the $25,000 mark for the first time since March 17 following a hawkish Fed announcement amidanother turbulent week for the crypto industry.  Within the span of 30 minutes on June 15, the price of Bitcoin fell 4% from $25,867 to $24,819 according to data from TradingView. At the time of publication Bitcoin has regained ground and is holding just above $25,000. Bitcoin price from June 12 to June 15. Source: TradingView. Over the past week Bitcoin had been holding around the $26,000…

Brazil authorizes its central bank to regulate crypto

Brazilian President Luiz Inácio Lula da Silva has signed a new law empowering the country’s central bank to regulate and supervise cryptocurrency firms while ensuring that tokens that qualify as securities remain under the authority of the securities regulator. This development is in line with Brazil’s commitment to creating a regulatory framework for the country’s fledgling crypto space. Brazil’s central bank takes charge  In a new decree signed by President Lula, Brazil’s Central Bank now has the authority to regulate and supervise digital asset-focused businesses such as bitcoin (BTC) trading…

Bitcoin BTC Crypto Friendly Miami Mayor Francis Suarez Jumps Into Presidential Race

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Suarez, who touted bitcoin’s “democratizing impact on the future of wealth for every American” in a 2021 interview with CoinDesk, has examined ways to accept taxes and pay municipal employees in the currency. He also announced MiamiCoin (MIA), built on the Bitcoin adjacent blockchain, Stacks, which he hoped could someday pay a recurring BTC stimulus to Miami citizens. Original

cypherpunk ideals, regulation and the future of bitcoin

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In an exclusive interview with crypto.news, Paolo Ardoino, chief technology officer at Bitfinex and Tether, provided a fascinating insight into his journey in the cryptocurrency industry, his thoughts on regulation, and the role of bitcoin in the future. Journey into crypto Ardoino, a lifelong developer, got involved in the cryptocurrency industry after discovering bitcoin (BTC) as a potential ledger solution to outdated and bug-ridden financial technology. Beginning his journey with Bitfinex in 2014, he worked on improving their bitcoin trading platform before transitioning to his current role as the CTO…